Poole, William; Rasche, Robert H.; Wheelock, David C. - Federal Reserve Bank of St. Louis - 2008
-price record will depend heavily upon the responsibility with
which they exercise the market power that society entrusts to them … estimate the model yield … little information about the
consequences of the program proposed. In particular, the simulations … growth regime [is] … an optimal risk-minimizing strategy in a state of
uncertain and shifting information.” Brunner …